The European naphtha cargo range fell due to lower Brent crude prices

(ICIS) -- The European naphtha cargo range fell by USD 29/tonne (EUR 21/tonne) due to lower Brent crude prices on Thursday morning. At 10.00 GMT, the naphtha range was assessed at USD 928-936/tonne CIF (cost, insurance & freight) NWE (northwest Europe), with August Brent crude at USD 113.55/bbl and the July crack spread at minus USD 8.75/bbl.


This compares with a range of USD 957-965/tonne CIF NWE at 3.30 GMT on the afternoon of 15 June, when August Brent was at USD 117.80/bbl and the crack spread at minus USD 9.60/bbl.


The naphtha market has been oversupplied in recent weeks and a fall in prices may lead to expectations of increased demand. However, today's price drop has so far had little effect.


With downstream products priced in euros, the current exchange rate means that the impact of the crude price drop on petrochemical values is not sufficient to instigate demand for naphtha, the source said.


Furthermore, buyers are said to be waiting for July contract prices to be settled for products such as ethylene (C2) and propylene (C3) before purchasing further quantities of naphtha.


MRC

Pallmann's PFV Plast-Agglomerator to recycle thermoplastic waste

(Plastemart) -- Thermoplastic waste can be recycled and reintroduced into the production stream with Pallmann's PFV Plast-Agglomerator. The equipment is characterized by its relatively low acquisition cost in comparison with other technologies, as well as the low thermal stress it puts on materials, allowing them to maintain as many of their original characteristics as possible. The PFV Plast-Agglomerator can handle waste coming from production of film, fibers, foam, carpets or other mixed materials, from PP, PE, PVC, ABS, and XPS as well as compounded materials.


The agglomerated material is transported pneumatically to a downstream hot melt granulator, creating free-flowing granules with a high bulk density and a minimum of thermal degradation. This valuable raw material can then be reintroduced into the production process or used in other applications, as a filler for example.


New technical characteristics make the Plast-Agglomerator even more attractive than before. Pallmann can now deliver complete systems, premounted on a base frame, including wiring and water hook-up, simplifying installation and decreasing assembly time. Even after assembly, the complete system can be quickly moved and so is easily adaptable to changing production conditions at the customer.


MRC

BASF to expand its Yeosu facility for MDI

(Plastemart) -- BASF has signed a Memorandum of Agreement to expand its Yeosu facility for MDI (diphenylmethane diisocyanate). The Yeosu site was established in 1998 and currently has an annual production capacity of 190 KT MDI, 160 KT TDI (toulene di-isocyanate), and 20 KT of CCD (Carbonyl Chloride Derivatives).


BASF and other companies will collectively invest a total of KRW 80 billion (approx EUR 50 mln) in Yeosu Industrial Complex between 2011 and 2012, increasing the capacity of the MDI site from its current 190 KTa to 250 KTa.


"According to our Asia Pacific Strategy 2020, we will invest EUR 2.3 billion in the Asia Pacific region from 2011-2015. With this investment we are supporting the plans of Jeollanamdo Province for rapid and sustainable development. At the Yeosu site, we are producing products that help our customers increase energy efficiency and lower carbon emissions," said Albert Heuser, President, Market and Business Development Asia Pacific for BASF.


MRC

Swedish Autoliv to investing at its production facility in Brazil

(Plastics Today) -- Leading automotive safety systems supplier Autoliv Inc. (Stockholm, Sweden) is investing USD 9 million at its production facility in Taubate near Sao Paulo in Brazil to double its steering wheel molding and assembly capacity to more than one million units annually. This will consolidate its position as leading supplier in the region.


This capacity increase positions Autoliv to take advantage of the expected 25% increase of light vehicle demand in Brazil over the next three years. In addition, a Brazilian law mandating 100% adoption of frontal airbags in light vehicles will be phased in through 2014.


Autoliv began steering wheel operations at the existing Taubate plant 12 years ago. The plant currently has 77 employees, and expects to increase to nearly 100 employees when the plant reaches full capacity.

MRC

Tata Steel and Jindal Steel & Power to invest in coal-to-liquid projects in Orissa

(Plastemart) -- Jindal Synfuels limited (JSFL), a JSPL group company plans to set up a CTL (Coal to Liquid) plant with a capacity of 80.000 bpd, while Tata Steel in joint venture with South Africa based Sasol Synfuels (Pty) Ltd will set up a 3.6 mln tpa Coal to Liquid (CTL) plant in Orissa. An investment outlay of Rs 90.000 crore is expected towards these two plants, scheduled to come up by 2016. These projects will utilize the huge inferior coal deposits found in India to produce ultra clean liquid fuels like diesel and naphtha.


MRC